London Breakout is a Forex expert advisor, which “shows great potential” in Asian, European, and North American market breakouts. The developer of this trading tool is proud to represent his product after successful backtesting and live testing results.
Today in this London Breakout review, we will be analyzing the trading performance of this EA and analyze all the potential risk factors to decide whether investing money in this MT4 tool is worth its price.
Is London Breakout a Good Choice for Traders?
We do not recommend this EA to the public. Our decision is based on:
- High drawdown
- Hidden trading history and balance data
- No information about the minimum deposit required
- No information about the money-back guarantee
- No contact details to get in touch with the support
Features
The developer of this trading tool claims that it includes an option of accelerating profitability. London Breakout works on price action. It does not use any indicators and so the installation process is easy even for a beginner. The developer recommends using the hourly chart “for better visualization of the EA in operation”.
Price
The London Breakout EA is available to buy for $30 on the MQL5 market. The trading system is also available for rent and costs $10/month, $15/3 months, $20/6moths, and/or $25/one year. Traders interested in the purchase of this automated trading tool can ask for a free Demo account to test the software before a purchase:
Trading Strategy
The trading strategy of this robot can be combined with Martingale, which can be manually turned on and off. The developer adds that this trading approach has shown very good trading results and great profits. Moreover, he says that coupled with Martingale, this robot can provide a trader with smooth trading experience which suits his own risk management.
Trading Performance Data
The developer failed to provide trading results verified by third party websites as myfxbook or fxblue. Therefore, we have decided to conduct additional research and find at least 1 live trading account to see the trading performance of the London Breakout EA.
The account was launched on June 1, 2020. It is a real trading account running on the MT4 platform with IC Markets and a 1:500 leverage. Since the time of activation, it has obtained a gain of over 90.83%, with a daily gain of 0.58% and a peak drawdown of 54.80%. Unfortunately, the balance data and trading history data are private. Thus, we can analyze neither how much the trader has placed on the deposit, what the profit is, nor what the balance is now.
The robot is trading GBPJPY currency pair only:
For the whole history of trading, the robot has placed 86 trades and 45.2 pips. It has won 42 out of 86 trades, which represents 49%. Its average win result is 29.78 pips with the average loss of -27.40 pips. Its risk/reward ratio is 1:1. The average trade length is 2 hours and 48 minutes. The profit factor is 1.68.
The trading activity data is completely hidden. It is not a good sign for a developer who wants to gain trust and reputation in the highly competitive Forex marketplace.
Vendor Transparency
On the MQL5 market, we have found that the developer of this trading tool is SAMUEL EURFYL DAVIES, located in the United Kingdom. Unfortunately, we know nothing about the trading history of this developer. The one thing we know is how he started trading with his EA:
Samuel provides neither email address, phone number, social media contacts nor live chat to get in touch with support. Traders can ask questions or write reviews in the comments below the publications written by SAMUEL EURFYL DAVIES. However, we do not see any activity from Samuel or response on comments written by people who are trading with this EA. It is not good for a seller who wants to obtain trust and reputation among clients.